It’s easy to think that once you become a millionaire, you’re set. All your financial woes go away, and you have “made it.” However, this kind of mindset is dangerous because real wealth is not measured by how much you have, but rather how long you can last on what you have.
Are you looking at your saved money as real wealth?
When people think about “lasting on the money I have,” they immediately want to save more and put more money in the bank. Over years of traditional thinking, most employees would think this way. However, sooner or later, the inevitable will happen. The money you have in the bank will run out. To the financially educated, they are looking at 1) […]
Are you feeling stuck? Are you struggling to see the success you were hoping for when you became an investor? Today, allow me to encourage you go back to basics and look back at “why” you chose to become an investor.
Evaluate The Basics Of Investing
When you go back to the basics of investing, you can more easily review what you have done and change what you need to fix. Usually, when we are feeling stuck or can’t move forward, it’s because we did something different along the path. We deviated from our initial strategy and those actions may have taken us “off-course.”
Are you paying yourself first? When you are building wealth, paying yourself first is a top priority. […]
Don’t Allow Your Finances To Become A “Junk Drawer”
Opening the kitchen “junk drawer” trying to find a pair of scissors can be frustrating. Many kitchen “junk drawers” are filled with things that are for one-day-when-I-need-this or items that don’t really have a specific home. We throw them into the “junk drawer”, close the drawer and hide the disorganization behind the drawer knob.
Many times, our finances behave the same way. We sometimes keep our receipts & sometimes we lose them. If we keep the receipts, they start to pile up on the desk. When you need it again, the ink has faded away with time. Sometimes it’s so bad that you can’t find a folder you stuck somewhere when quickly cleaning […]
When you are considering getting into investments, always remember that “Cash flow is King.” What exactly is cash flow? It’s when you are making money without you physically needing to work for it. Who doesn’t want more of that, right?
There are 4 basic asset classes to consider when investing: real estate, business, stocks, and commodities. Three of the four can bring cashflow or passive income.
The Real Estate “Work Hard” Approach
Flipping houses looks much easier on TV. Many TV show celebrities have made their fortunes creating shows demonstrating how to buy a property, fixed it up and sell it at a considerable profit. Many new investors who consider getting into real estate start by purchasing an ugly house, try to […]
As you choose to step into this new world of attracting wealth, it is imperative you surround yourself with the right people. You cannot possibly know everything about everything. To streamline your way to success, invest in your greatest asset – YOU – and hire the expertise of a coach or mentor who has done what you want to do. Hiring your mentor or coach requires a delicate relationship balance. You must be willing to learn from them, and they must be ready to guide you.
A mentor is someone you should trust
Free advice is precisely that: Free. It doesn’t cost you anything to hear it. Free advice requires nothing for someone to give it. It usually has little value. Therefore, you want to invest in a coach […]
Everyone making an income will fall into one of the four categories of earners. Each one is earning money, but which will build wealth? Which will be able to create the life they desire? Let’s look at how each of us fits into one of these categories:
Employee: This is the person that has a job and chooses to work for other people. They trade their time for money.
Self-employed: This person works for themselves – They make their schedule & dictate terms for earning an income. They own their jobs, and their role needs them to be successful. They find themselves stuck in the day-to-day operations of the business.
Business owners: This person is the visionary. Therefore, they have created processes and systems so the business creates profits without them […]
I always say that the easiest way to become wealthy is to do what rich people do. And, it’s simple. Rich people don’t stay in a job for many decades. They don’t get buried in their business. Rather, they invest in themselves and education which ultimately leads them to success.
Traditional Schooling Doesn’t Teach About Passive Income
Most students in public schools today do not gain the financial education they need to be successful. In fact, many people who want to be investors do not have the know-how to be successful. But, wealthy people take the time to invest in themselves first. They learn to invest in education specifically in real estate, business, stock, and commodities so that their decisions can create multiple streams of […]